Follow WOWNEWS 24x7 on:
Updated: May 12, 2025 19:46
US President Donald Trump and Health and Human Services Secretary Robert F. Kennedy Jr. held a news conference today, unveiling a new executive order aimed at reducing prescription drug prices. The policy introduces a "Most Favored Nation" pricing rule, ensuring that the US pays the lowest global price for medications.
Key Highlights
Executive Order & Drug Price Caps
Trump’s order caps prescription drug prices, aligning them with the lowest cost offered in any other country2.
The policy is expected to reduce drug costs by 30% to 80%, benefiting Medicare patients and consumers.
Market Reaction & Pharmaceutical Industry Response
Pharmaceutical companies have raised concerns, warning of potential disruptions in drug availability.
The move is expected to pressure drug manufacturers to adjust pricing strategies globally.
Political & Economic Implications
Trump called the executive order "one of the most consequential in US history", emphasizing fairness for American consumers.
The policy may face legal challenges, similar to previous attempts to regulate drug pricing.
Statements from Trump & RFK Jr.
Trump stated that the order will "bring fairness to America", ensuring affordable healthcare for all.
RFK Jr. emphasized the importance of transparency in drug pricing, reinforcing consumer protection efforts.
Future Outlook & Implementation Strategy
The administration plans to roll out the policy in phases, ensuring smooth adoption.
Experts anticipate further negotiations with pharmaceutical firms, shaping the final framework.
This landmark decision underscores Trump’s commitment to healthcare reform, reinforcing his stance on reducing drug costs.
Sources: The Hill, RealClearPolitics, MSN
Follow WOWNEWS 24x7 on:
Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.
Powered By Just Imagine
